Distressed Financial Markets

The book examines the characteristics of different financial systems and markets, including the importance of their legal underpinnings and organisational arrangements, and their role in transmitting financial distress. It complements this structural focus with brief case studies of a number of country-level financial crises, including the ongoing 2008 credit crunch which began in the United States in the sub-prime mortgage market and is spreading globally and to other segments of the financial markets.